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Bearsh demand on horizon for Canada's airlines, UBS analyst says.
Posted on May 09, 2008
While WestJet Airlines Ltd. and Air Canada reported better-than-expected operating results for the first quarter, a UBS semi-annual survey of corporate travel managers indicates bearish demand trends are on the horizon, says the firm's transportation analyst Fadi Chamoun.As well, Mr. Chamoun says in a note to clients that we believe that while the market has successfully absorbed recent fare increases, the significant incremental increases in yields required for softening higher fuel costs may be more difficult to achieve given slowing economic growth and further growth in capacity. Mr. Chamo...
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